The world's two biggest economies launched two days of annual talks in Beijing ***this*** Wednesday, with Chinese President Xi Jinping emphasizing the importance of bilateral cooperation.

(Chinese)
"Sino-U.S. co-operation can be a significant achievement that is beneficial to both sides and to the world. A confrontation between the two countries would be a disaster. (.) We should mutually respect each other, respect each other's sovereignty and territorial integrity and respect each other's development paths."

The U.S. is being represented by Secretary of State John Kerry and Treasury Secretary Jacob Lew, and China by State Councilor Yang Jiechi and Vice Premier Wang Yang.
Kerry stressed that the U.S. does not wish to contain China, and welcomed the emergence of a peaceful China.

"Despite our differences, our two nations have the ability to find common ground. That's the foundation on which we need to build decades of prosperity for the future, and also build the possibilities of stability and peace at the same time."

A number of issues are on the table for discussion, including a bilateral investment treaty and China's currency valuation.
They are also expected to exchange views on more sensitive issues like the territorial disputes in the South China Sea and East China Sea that have gripped the region, China's alleged hacking attacks on U.S. companies, and the North Korean nuclear issue.
Park Ji-won, Arirang News.